Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. SPX reclaims 4000 level with 2nd day of gains; 8/11 SPX sectors up as VIX collapses; Fed Decision Day on Wed-Expect No surprises; INTEL headwinds on China curbs </li>
<li>JAPAN.  NKY Futs +0.6% vs Cash; USDJPY 132. 4; Japan set to rally after the Spring  transition break;US accepts Japan's EV subsidy appeal=+ve auto parts; More inflation support from govt. </li>
<li>NUGGET. Asahi Kasai - M&amp;A Gone Bad, Writedown, Struggles Remain. Future profitability of the LiB Separator business in question. </li>
</ul>


OVERSEAS. SPX reclaims 4000 level with 2nd day of gains; 8/11 SPX sectors up as VIX collapses; Fed Decision Day on Wed-Expect No surprises; INTEL headwinds on China curbs 
JAPAN.  NKY Futs +0.6% vs Cash; USDJPY 132. 4; Japan set to rally after the Spring  transition break;US accepts Japan's EV subsidy appeal=+ve auto parts; More inflation support from govt. 
NUGGET. Asahi Kasai - M&amp;A Gone Bad, Writedown, Struggles Remain. Future profitability of the LiB Separator business in question. 


Good Morning Japan |SPX Reclaims 4000! NUGGET: Asahi Kasei-M&A Gone Bad, Writedown, Struggles Remain

<ul>
<li>OVERSEAS. SPX +0.5% in Choppy session; Tech leads as 7/11 sectors rose in a Beta rebound; NDVIA +14% on AI/Chat GPT prospects; All eyes on Friday's PCE Deflator print</li>
<li>JAPAN. NKY Futs +0.4% vs Cash; USDJPY 135 level; Tech to lead after yesterday's holidays; BOJ Gov designate Ueda speaks the Diet today;  Analysts bullish with 11 BUY Upgrades </li>
<li>DAILY NUGGET.  What does Roll-Royce, +24% overnight, say about Japan's IHI(7013) ? The rise in prospects positive for IHI. </li>
</ul>


OVERSEAS. SPX +0.5% in Choppy session; Tech leads as 7/11 sectors rose in a Beta rebound; NDVIA +14% on AI/Chat GPT prospects; All eyes on Friday's PCE Deflator print
JAPAN. NKY Futs +0.4% vs Cash; USDJPY 135 level; Tech to lead after yesterday's holidays; BOJ Gov designate Ueda speaks the Diet today;  Analysts bullish with 11 BUY Upgrades 
DAILY NUGGET.  What does Roll-Royce, +24% overnight, say about Japan's IHI(7013) ? The rise in prospects positive for IHI. 


Good Morning Japan |Choppy US BUT Tech Roars Back with NVIDIA/AI Prospects; Catch up Time in Japan !

<ul>
<li>OVERSEAS.  SPX  stays positive; Energy leads as Russia cuts oil production; CPI print in focus - as market looks for Fed Pause clues; TEREX - solid print/outlook..what Recession?</li>
<li>JAPAN. NKY Fut -0.3% vs Cash;  USDJPY 131.36; Shock at Professor Ueda as BOJ Gov; Yen rallies then weakens post his Presser;  Govt to guarantee 15% margins for Defense suppliers?</li>
<li>DAILY NUGGET. Fun take - ChatGPT on BOJ Governor to be Kazuo Ueda.</li>
</ul>


OVERSEAS.  SPX  stays positive; Energy leads as Russia cuts oil production; CPI print in focus - as market looks for Fed Pause clues; TEREX - solid print/outlook..what Recession?
JAPAN. NKY Fut -0.3% vs Cash;  USDJPY 131.36; Shock at Professor Ueda as BOJ Gov; Yen rallies then weakens post his Presser;  Govt to guarantee 15% margins for Defense suppliers?
DAILY NUGGET. Fun take - ChatGPT on BOJ Governor to be Kazuo Ueda.


Good Morning Japan |SPX Hangs on Ahead of Key CPI Print; BOJ Gov Candidate Shocker->ChatGPT's View

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The <a href="https://asia.nikkei.com/Spotlight/Toshiba-in-turmoil/Japanese-consortium-makes-final-offer-on-Toshiba-buyout" target="_blank" rel="noopener">Nikkei reports</a> that Japan Industrial Partners (JIP), the preferred bidder, has finally secured financing and submitted a final offer to <a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a>’s Board.</li>
<li>Nikkei notes that JIP expects to spend about JPY2 trillion on the acquisition suggesting an offer price around JPY4,750 per share, -4% below the undisturbed price of JPY4,957.60 (21 April).</li>
<li>The hard part now is getting the Board to accept the unremarkable offer and the banks’ conditions. If the Board succumbs, the next challenge is to get shareholders to accept.</li>
</ul>


The Nikkei reports that Japan Industrial Partners (JIP), the preferred bidder, has finally secured financing and submitted a final offer to Toshiba Corp (6502 JP)’s Board.
Nikkei notes that JIP expects to spend about JPY2 trillion on the acquisition suggesting an offer price around JPY4,750 per share, -4% below the undisturbed price of JPY4,957.60 (21 April).
The hard part now is getting the Board to accept the unremarkable offer and the banks’ conditions. If the Board succumbs, the next challenge is to get shareholders to accept.


Toshiba (6502 JP): Formal Offer Lodged, Now for the Hard Part

<ul>
<li>OVERSEAS.  US stocks rally on Fed paus(ing); Duration gets extended spurring +5% SOX move; AMD results provide comfort for Semis; Meta Beats !  Off to the races!</li>
<li>JAPAN.  NKY Futs +0.2% vs Cash; Yen Stronger at USDJPY 129.02 post Fed;  BOJ shows commitment buying  $180 bn JGBs in Jan;   Earnings: Positive Keyence; Negative Kyocera; Disaster Sumi Chemicals. </li>
<li>DAILY NUGGETS. Race for Talent. Japan retail major lifts wages, as (wage) hike momentum gathers. Issue for Japan is lack of workers !</li>
</ul>


OVERSEAS.  US stocks rally on Fed paus(ing); Duration gets extended spurring +5% SOX move; AMD results provide comfort for Semis; Meta Beats !  Off to the races!
JAPAN.  NKY Futs +0.2% vs Cash; Yen Stronger at USDJPY 129.02 post Fed;  BOJ shows commitment buying  $180 bn JGBs in Jan;   Earnings: Positive Keyence; Negative Kyocera; Disaster Sumi Chemicals. 
DAILY NUGGETS. Race for Talent. Japan retail major lifts wages, as (wage) hike momentum gathers. Issue for Japan is lack of workers !


Good Morning Japan | Blast off ! "Disinflation Process Has Started";AMD Spurs Tech Rally; Meta Beats

Japan

Kawasaki Heavy Industries, Ltd. designs, develops, and manufactures transport equipment and industrial heavy machinery for military and commercial use.  The Company produces ships, railroad cars, aircraft engines and parts, hydraulic and gas turbines, submarine engines, boilers, and industrial robots.  Kawasaki Heavy Industries offers engineering and construction services to industrial plants.

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Kawasaki Heavy Industries (7012 JP)

Good Morning Japan |SPX Reclaims 4000! NUGGET: Asahi Kasei-M&A Gone Bad, Writedown, Struggles Remain

Japan is poised to rally after the Spring transition, as its stocks have taken a hit during the recent risk-off period. This has created many...

Mark Chadwick

Good Morning Japan |Choppy US BUT Tech Roars Back with NVIDIA/AI Prospects; Catch up Time in Japan !

Tech to lead after yesterday's holidays; BOJ Gov designate Ueda speaks the Diet today; Analysts bullish with 11 BUY Upgrades

Mark Chadwick

Good Morning Japan |SPX Hangs on Ahead of Key CPI Print; BOJ Gov Candidate Shocker->ChatGPT's View

US CPI in focus; BOJ Surprise Nominee - do not expect anything revolutonary. After Gov designate Ueda's news conference on Friday, that market has...

Mark Chadwick

Toshiba (6502 JP): Formal Offer Lodged, Now for the Hard Part

The hard part now is getting the Board to accept the unremarkable offer and the banks’ conditions. If the Board succumbs, the next challenge is to...

Arun George

Good Morning Japan | Blast off ! "Disinflation Process Has Started";AMD Spurs Tech Rally; Meta Beats

NKY Futs +0.2% vs Cash;USDJPY 129.02 post-Fed. Watch our homegrown SPE names today to follow the lead of the SOX. Today, Sony is on tap. Watching...

Mark Chadwick

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